Mozambique posted economic
growth of 2.2% in 2019, which compares with an increase of 3.43% in 2018, said
the country’s National Statistics Institute (INE).The growth recorded in 2019
was the lowest in the last decade, according to INE, whilst also revealing a
slowdown in growth. Figures published in the Bulletin of National Accounts for
the fourth quarter and full-year 2019 showed, for example, that in 2012
Mozambique’s economy grew at a rate of 7.3%, and since then and apart from
2014, with growth of 7.4%, slowed until it reached 2.2% in 2019.
Separating 2019 by quarters,
Mozambique’s economy grew 2.5% in the first, 2.3% in the second, 2.01% in the
third (which was incraesed by 0.02 percentage points) and finally, 2.03% in the
fourth quarter.
Economic performance in the
fourth quarter of 2019 was mainly driven by the tertiary sector which grew at
1.5%, with greater emphasis on the financial services industry with growth of
around 5.6%, followed by Transport, Storage, Auxiliary Transport Activities,
Information and Communications with growth of around 3.17%.In second place was
the primary sector with growth of 0.72%, with the segments of fishing with
4.1%, assisted by agriculture, livestock, hunting, forestry, logging and
related activities with growth of 1.4%.The secondary sector noted a decrease of
0.87%, driven by the manufacturing industry with a decrease of 2.6%.
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